September 05, 2014- Stocks Cautious Ahead of Data

The mood on Wall Street remains cautious, with the major index futures pointing to a modestly lower opening on Friday. After fairly strong domestic data upset the rhythm of the markets yesterday, traders brace for another first-tier data that could shed light on the strength of the labor market recovery. Economists expect August to be another month, which saw a brisk pace of job additions. Among the global markets, Asian stocks went about in a lackluster manner, while the European markets are also seeing weakness despite a strong German industrial output reading, as traders look ahead to the U.S. jobs report and the communiqué from the 2-day NATO meeting that ends today. The Dow futures are slipping 64 points, the S&P 500 futures are down 8.50 points and the Nasdaq 100 futures are receding 12.50 points. U.S. stocks declined on Thursday in a late hour sell-off, as early optimism built on the back of a benevolent move by the European Central Bank and fairly in line domestic economic data gave way to fears over monetary policy normalization in the U.S.